Iron Dome Defense
You can't help but be impressed by the success that Israel had in protecting it's population from the thousands of rockets raining down on it by the Hamas. The system they developed in less than five years is called the Iron Dome (check it out on Youtube). It has the ability in 15 seconds to identify and shoot down a rocket headed for a populated area and let go one headed for the desert.
The story is even more interesting when you here how improbable was its birth and struggle to success. No one but a handful of Israelis believed it would work. The story captured this week in the Wall Street Journal (Nov. 20, 2012) is the story of a hero who persisted in making it come true. This will make a great movie of the Hero's Journey of Brigadier General Daniel Gold. Watch to see what Hollywood studio is first to the story.
How does this apply to you? You have hand rockets raining down on your clients for months, if not years. This especially applies to your seniors who rely on income from their portfolios, low interest rates, potential tax increases on dividends and capital gains, sizable volatility, scandals, crashes and persistent recession. Many are depressed following the election and are ready to flee to the bunkers by going to cash or moving to another advisor.
What can you do to give them hope?
- Stay in touch. They need a balanced view of the future more than ever. Your more optimistic view of the future may be all they need to stay the course.
- Point out good news. This story of the Iron Dome is one that everyone will love to hear. Facing an impossible future Israel created a solution which just may lead to peace.
- Point out the good decisions that the government has made regardless of your political leaning. President Obama looks very smart in this story giving over $200 million and our support to a project that was shot down by the Pentagon.
- Remind them that their live and the life of their loved ones are still very good. Even with higher taxes, they will not have to change their lifestyles. People tend to awful-ize the future. You can be a calming force in the world of 'permanent white water'.
- Remind them of their long and short term financial plan goals. Focusing on their most important goals and vision of their future is critical at this time.
- If you have a policy statement controlling the investment process, go back to that frequently and remind them of the long term benefits of proper asset allocation.
Supernova can be the Iron Dome for your clients. Think of your 12/4/2 constant contact model, as your rockets sent to shoot down the incoming missiles of negativity. Although some will alway get through, those missiles can protect you and your population from potentially disastrous decisions.